Alliance Physical Therapy Partners, which is backed by GPB Capital, has acquired a majority ownership stake in Wisconsin-based Franklin Rehabilitation, a provider of specialized rehabilitation services to patients suffering ailments related to the musculoskeletal and neurological systems. No financial terms were disclosed.
NEW YORK, Jan. 26, 2018 /PRNewswire/ — Alliance Physical Therapy Partners (“Alliance PT”), an affiliate of GPB Capital, has acquired a majority ownership stake in Franklin Rehabilitation (“Franklin Rehab”) which provides specialized rehabilitation services at two physical therapy clinics in the Milwaukee suburb of Franklin, Wisconsin. Terms of the deal, which closed on November 30, 2017 and constitutes Alliance PT’s seventh acquisition, were not disclosed.
“Franklin Rehab’s physical therapists are experienced specialists who are uniquely qualified to treat patients with musculoskeletal and neurological conditions—making Franklin Rehab a vital healthcare provider in its surrounding community,” said Mark Andrzejewski, CEO of Alliance Physical Therapy Partners. “The financial, administrative, and operational support we will provide is intended to position our new partners at Franklin Rehab to continue to deliver an optimal standard of care that isn’t always available in larger institutional settings, while also treating more patients.”
Franklin Rehab (http://www.franklinrehab.com) offers specialized rehabilitation services to patients suffering from a variety of maladies related to the musculoskeletal and neurological systems, including back and neck conditions, sports and work-related injuries, neurological disorders, and general orthopedic problems. The company’s physical therapists possess an average of 10 years of experience, and undergo ongoing education. To help patients make well-informed decisions when choosing a provider of physical therapy, Franklin Rehab provides free injury screenings and consultations, as well as complimentary Specialty Treatment Program Guides containing questions patients should ask any therapist in order to ensure the therapist has the necessary experience and training for their specific condition.
Alliance PT works closely with independent physical therapy practices to help them implement best practices for generating scalable growth that benefits more patients. The Alliance PT approach involves streamlining managed payroll, workers’ compensation, recruitment, and other administrative processes in order to give practice managers more time to spend on patient care and practice growth. Alliance PT’s team members have a broad range of experiences building and running physical therapy practices, and can provide guidance on many areas of practice management, including acquisitions, compliance, direct-to-consumer marketing, human resources, recruitment, strategic growth, and technology. In addition, Alliance PT’s billing/coding and risk/compliance professionals provide personalized support around relationships with payers, which is intended to help mitigate potential losses.
“In today’s challenging healthcare environment, independent physical therapy practitioners’ chances for success are much higher if they join forces with other practice operators who share their goals,” said Dotty Bollinger, Managing Partner with GPB Capital responsible for the firm’s Healthcare Strategy. “Alliance Physical Therapy Partners offers entrepreneurial physical therapists the opportunity to provide compassionate care for a greater number of patients, while maintaining their individual brands. We are glad to welcome Franklin Rehab to our supportive network of experienced, patient-focused physical therapy practitioners.”
About Alliance Physical Therapy Partners
Alliance Physical Therapy Partners is an affiliate of GPB Capital Holdings, LLC focused on acquiring private physical therapy practices across the U.S. to provide practice owners the opportunity to expand their footprint while receiving operational guidance and financial support. The Alliance PT team includes former private practice owners, direct marketing professionals, and operations experts who have experience running and growing successful healthcare organizations. For more information, visit www.allianceptp.com.
About GPB Capital Holdings, LLC
GPB Capital is a New York-based alternative asset management firm focusing on acquiring income-producing private companies. GPB Capital provides their portfolio companies with the strategic planning, managerial insight, and capital needed to enable strong businesses to achieve the next level of growth and profitability. GPB Capital has over $1.5 billion in assets under managementi and has acquired or invested in more than 160 portfolio companies. For more information, please visit www.gpb-cap.com.